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What is financial intelligence and what is it for?

Financial intelligence is the ability you have to control your personal finances.

Just as it is important to learn how to make smart loans (Lee: Smart loans), it is also important to learn how to manage, control and manage personal finances.

The economy, is perhaps one of the issues for which we have never been properly educated, we have been taught from the school, that studying is for the only thing that we need intelligence, but they assume that the rest is something that we will empirically develop.

Today, from Rapicredit, we want to tell you about financial intelligence, a term that, although unknown by many, who manage to know, study and learn it, achieve a financial stability that few can have and learn to have such control over their money, that they never deprive themselves of what they like most.

Financial intelligence is based on the following pillars:

Control unnecessary expenses: knowing your personal expenses is essential to have total control of your finances, know how much money comes in and how much money comes out, is the first step to improve your personal economy.

As advice on this point, we recommend you have a table in which you write the money that you spend every day vs the money that reaches your hands, at the end of the month, account for this data and make an in-depth analysis of the results.

Savings and consumption strategies: saving is the key word at any time of financial transformation, no matter how much you save, the important thing is that you do it (Lee: 2 effective methods to save 1 million pesos in a short time) and that you start creating a habit

At this point, it is important that in addition to allocate part of your money to save, you know in which monthly expenses you can decrease money, at this point you can evaluate: bills (Read: Tips lower the price of your bills), credits, meals or party, transportation, etc.

Generation of money: financial intelligence is characterized by a motto and is to generate more money. It is not that you should have 5 work to be very smart in your finances, but that the generation of this money is given by means of a correct administration of what you have to achieve an economic abundance.

At this point, investing is a good decision, because in this way you double your income, you become independently financial and also, you can use this investment for a project that you want to execute from always. So, add two important terms: financial intelligence and entrepreneurship, the latter we will tell you later.

A person with financial intelligence is always thinking about increasing their income and reducing unnecessary expenses, be careful! It’s not about living badly or becoming an extreme cheapskate, it’s about finding the perfect balance between what you spend, what you earn and the extra money you can get.

Learning to make smart loans is a fundamental part of having financial intelligence, for this reason, at Rapicredit, we invite you to request credits that are not going to cause you any worries.

Remember that our loans are of free destination and you can use them in whatever you want, this can be the first step to generate additional income, as long as you know how to invest it in the indicated way.